Central Bank Digital Currency

By Manashaa G



Uses a blockchain-based token to represent the country's official digital currency


Unlike Bitcoin, which is a privately owned entity, a CBDC unit would be centralized by a country’s monetary authority 

Since CBDC will act as a mouthpiece of a country's digital currency, it will be aided by monetary reserves such as gold or foreign currency reserves

Each CBDC unit can be used for payments just like cash and coins

Every single CBDC unit will have an unique serial number to avoid imitations 

To avoid scams, hacks and thefts of data. It is more convenient and secure


If introduced in India, the CBDC unit will be monitored by our Central Bank,  the “Reserve Bank of India

CBDC aims at establishing a convenient and secure digital form of payments such as  cryptocurrencies, and the money must be regulated

Bank of England (BoE), People’s Bank of China (PBoC), Bank of Canada (BoC) and banks of Venezuela, Thailand, Sweden and Singapore among other digital form of payments like cryptocurrencies, and the money must be regulated

Russia is currently working on its own CBDC instrument creation called “cyrpto-ruble”

No country has launched their own official CBDC unit so far